U.S. auto sales fall in Q1 as chip shortage slows factories

Rental cars
Posted at 8:40 AM, Apr 02, 2022
and last updated 2022-04-02 08:40:03-04

DETROIT (AP) — U.S. new-vehicle sales fell about 12% in the first quarter compared with a year ago, as the global computer chip shortage continued to slow factories amid high consumer demand.

General Motors reported Friday that its sales were down 20% for the quarter, while Toyota sales were off 15%.

Stellantis sales were down 14%, while Nissan was off almost 30%.

Honda reported a 23% decline, and Hyundai sales were fell just 4% from January through March. Many automakers expect improvement during the year, especially in the second half.